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Saturday, 19 April 2014

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Time to give local savings and loans some credit

On Thursday October 18, 2012, credit unions throughout Cumbria and across the world will join together to celebrate International Credit Union Day and the role that credit unions play in improving the lives of members that they serve in their communities across the world.

Credit unions exist to offer access to affordable financial services to all of their members, including the most financially disadvantaged.

As not for profit financial co-operatives, the sole aim of credit unions is to provide services to benefit their members – local people – and not to generate profit for distant shareholders.

In Cumbria there are currently five credit unions across Allerdale, Carlisle and Copeland. These credit unions have almost 11,000 adult and junior members and have a combined total of almost £1.8m in share savings deposited.

The adult members currently have almost £1.6m out in loans.

Credit unions are open to everyone in the area that they cover, regardless of your level of income.

If you want to benefit from saving on a regular basis and would like to borrow money at affordable rates of interest, then why not find out more about becoming a member of your local credit union?

Credit unions all offer loans to members linked to the value of their savings.

You may also be eligible for a loan without needing to save first. If you want to find out more about becoming a member of your local credit union and the services that they offer, contact:

Allerdale Credit Union – (01900) 63642 or (01900) 816111 or visit www.allerdalecreditunion.org.uk

Carlisle and District Credit Union – (01228) 594007 www.carlislecu.com

Cleator Moor and District Credit Union – (01946) 817508 or visit www.cleatormoorcreditunion.org.uk

Millom and District Credit Union – (01229) 775877

Whitehaven, Egremont and District Credit Union – (01946) 66755 or visit www.wedcu.co.uk

Carlisle and District Credit Union will be holding an open day at their offices at Lowther Street in the city centre on October 18. There will be an international theme with foods, music and staff dressed in costumes. Everyone is welcome to drop in and find out more about the services offered by the credit union.

Whitehaven, Egremont and District Credit Union will be holding a local “Credit Union Awareness Week” from October 15-19 with special offers for the first 50 new members to join during that week.

They will also be holding an open day on October 18 with free cakes and refreshments at their offices at 24 James Street, Whitehaven.

Elsewhere in Cumbria, local groups of volunteers have been working hard to set up new credit unions to serve the public in their areas. Barrow and Eden have submitted applications to the Financial Services Authority to open credit unions in their communities and are awaiting a decision.

A group in South Lakeland is working to finalise their application for submission. Credit unions should be opening shortly in each of these three areas and already more than 2,000 people have signed up to show their support and interest in becoming credit union members in these areas. If you want to find out more or add your support you can find out more at:

Barrow Credit Union Study Group – 07729 412327 www.barrowdistrictcu.org.uk

Eden Credit Union Study Group – 07780 031045 www.edencreditunion.org.uk

South Lakeland Credit Union Study Group – 07586 513457 or visit www.southlakelandcu.org.uk

If you want to be part of a growing movement in Cumbria where members matter most get in touch.

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